Shares of Countrywide PLC tanked 17% on Thursday after the real estate agent said 2017 profit is expected to have fallen by 9%. In a trading update before the company releases its full-year report in March, Countrywide said total profit is forecast to come in at £672 million, compared with £737 million a year ago. Profit in the sales and lettings business is expected to be £360 million, down 14% from 2016, reflecting a “a disappointing fourth quarter performance,” Countrywide said.
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